Hindalco could weather aluminium volatility

With US arm in conversion business and domestic business hedged, analysts see limited impact on company's FY19 profit

With the volatility in global base metal prices, the stock price of Hindalco, the aluminium and copper producer, has fallen almost 15 per cent from its peak in October. On the London Metal Exchange (LME), the price per tonne of aluminium had touched $2,187 in early November; it is now around $2,000. Per-tonne copper prices on the LME have also slipped, to $6,600 after touching $6,967.

The break to the rally in base metal prices was caused by nervousness on the back of less than expected production cuts in China, the world's largest metal producer. The Street was expecting significant